10 October 2015 - 13:44
  • News ID: 248149
Lawmaker Urges Reviving Iran’s OPEC Quota

TEHRAN Oct. 10 (Shana) – Spokesman for Majlis Energy Commission has called for an increase in Iran’s crude oil production saying Tehran has to win back its export quota within OPEC regardless of its impact on the market.

“Raising the production is imperative for our economy and must be put on the agenda no matter what effect it will have on the oil prices,” Hossein Amiri told Shana.

“To achieve our goals in oil industry, scientific and technological capacities of the country have to be tapped and world’s modern technologies must be employed too,” he added.

“It is inevitable to develop enhanced recovery technologies specially in the joint fields,” the lawmaker said, “Measures shall be taken to facilitate private sector’s participation and attract investors.”

“The Ministry of Petroleum is preparing for the post-sanction era and is planning programs for an increase in production capacity and export of crude oil,” said the ministry’s deputy for planning and monitoring of hydrocarbon resources Mansour Moazzami said last week.

“An export increase of 500,000 barrels a day after removal of sanctions and a subsequent increase of another 500,000 barrels within six months are on the agenda based on the current capacity of crude production,” he said.

“If we want to have a role in OPEC or among oil producing countries and firms as an actor, we must have a high production capacity. It is the reason to follow a strategy of output increase by 740,000 to 1 million barrels per day during the Sixth Economic Development Plan,” he added.

Iran was OPEC’s second-biggest producer before US-led sanctions banned its customers from purchasing, transporting, financing and insuring of its crude in mid 2012.

Moazzami, who is also head of energy committee of the Tehran Chamber of Commerce, said Iran is pushing to regain its quota of 14.2 percent within OPEC and later to increase its share in the global market.

Petroleum Minister Bijan Zangeneh has said that Iran is ready to increase its oil production in one week after sanctions are lifted.
News ID 248149

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